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Branding - Briefly summarise the article.

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Introduction

DAUBRY JULIEN 01008906 Coursework 2: MK32003 Marketing policy BRANDING Part 1: Briefly summarise the article Branding is an old powerful strategy tool used to accelerate market awareness and acceptance of new products entering a market. It has been successful in the past, and has evolved as a way to attract and keep customers by promoting standing or image. The traditional role for a brand is to identify the product of an organisation, and its differential advantage throughout a name. Some firms have even considered that the brand was more important than the product itself, and have preferred spending money into branding more than in product research; but importance of the product is beginning to be emphasized. The most fundamental problem regarding the issue of branding is what name to use. A name should have four characteristics, including distinctiveness, relevance, memorability, and flexibility, to ensure success with branding. Subsequently, it is imperative to support it through appropriate advertising and communication, as there is a correlation between the level of advertising investment and the level of brand awareness achieved. Even successful brand owners have still to constantly keep their leading brand status. Corporate, industrial, and service organizations are becoming the future of marketers, using branding strategy. Two of the most utilized applications of branding are ingredient branding, meaning extend a famous brand in a new market, and brand extensions, which means create a new product in an existing brand. ...read more.

Middle

About brand management, it seems to be strange to promote the financial value of the brand rather than making it a better product the customer wanted. The author has not clearly explained what he means by "product that the customer wanted". The part "creating a brand image" should have been developed in the advertising part of the text. Moreover, it just deals with the product differentiation; the author should have also explained that building a brand image is advantageous as it allows positioning a product. Part 3: Select an organisation of your choice and examine how the ideas and concepts from the article could applied to the organisation I have chosen the firm Yamaha, and this third part deals about the parallel between this company and the notions developed in Joseph Arthur Rooney article. On the subject of the brand naming, Yamaha is a Japanese name given by the creator of the firm, Torakusu Yamaha. As it is an old company (1887), it goes on the way of the text explaining that the names given in the past were usually the last names of the inventors. Consequently for this firm, the name does not mean something and so do not have the four described characteristics. In the text, the author says that it is easier to be successful in branding if the product does not have to overcome the disadvantage of a bad name. ...read more.

Conclusion

But the last one was a failure: that is the risk of brand extension, because as it is said in the text, sometimes when the links between the two markets is not obvious, it can be dangerous and customers may not buy. About the ingredient branding, the author explain that it is the idea of using an established name to promote a new product, and this notion can be largely applied to Yamaha. The Yamaha RX-V3000 (a home theatre receiver) seems to be a relevant example. Indeed it arrives to revitalise old product as the RX-V1000 and the RX-V2095, with a new look and a lot of differences and improvement. The subtle changes in branding suggests Yamaha is subtly changing its spots: The word 'Digital' now stands alongside the traditional Cinema DSP designation, and there is no longer 'Tri-field processing" it is now Quadfiel. Concerning the last part, which is brand management, we can also make some parallel between the text and Yamaha. The author explain that the firm have interest in maintaining customer loyalty by building and sustaining a positive brand image. Yamaha pianos hold an enviable reputation around the world for consistently high quality, trouble-free durability and superior musical performance. Therefore, professional performing artists rely on Yamaha grand pianos for recording, composition and concert appearances, for example, the famous Sviatoslav Richter played on Yamaha pianos for more than 25 years, and so the notions of the text could be applied to Yamaha. ...read more.

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